Ooma, Inc. (NYSE:OOMA) Receives Average Recommendation of “Moderate Buy” from Brokerages

Ooma, Inc. (NYSE:OOMA) has earned a consensus rating of “Moderate Buy” from the five brokerages that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $14.50.

Separately, JMP Securities reissued a “market perform” rating on shares of Ooma in a report on Wednesday, August 28th.

Institutional Trading of Ooma

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Covestor Ltd lifted its position in shares of Ooma by 52.7% during the 1st quarter. Covestor Ltd now owns 6,197 shares of the technology company’s stock valued at $53,000 after acquiring an additional 2,138 shares during the period. Rhumbline Advisers raised its position in Ooma by 17.1% during the second quarter. Rhumbline Advisers now owns 37,636 shares of the technology company’s stock valued at $374,000 after purchasing an additional 5,494 shares in the last quarter. Pitcairn Co. lifted its stake in Ooma by 30.5% during the first quarter. Pitcairn Co. now owns 27,122 shares of the technology company’s stock worth $231,000 after purchasing an additional 6,336 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Ooma by 33.2% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 26,995 shares of the technology company’s stock valued at $268,000 after purchasing an additional 6,732 shares in the last quarter. Finally, Perritt Capital Management Inc increased its stake in shares of Ooma by 28.0% in the 2nd quarter. Perritt Capital Management Inc now owns 32,000 shares of the technology company’s stock valued at $318,000 after purchasing an additional 7,000 shares during the last quarter. Institutional investors and hedge funds own 80.42% of the company’s stock.

Ooma Stock Performance

OOMA opened at $12.10 on Friday. The company has a quick ratio of 0.83, a current ratio of 1.15 and a debt-to-equity ratio of 0.10. The stock has a market cap of $324.28 million, a price-to-earnings ratio of -63.68 and a beta of 0.93. Ooma has a 12-month low of $6.50 and a 12-month high of $12.43. The business has a 50 day moving average of $10.94 and a 200-day moving average of $9.33.

Ooma (NYSE:OOMA) last released its quarterly earnings data on Tuesday, August 27th. The technology company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.03) by $0.01. The firm had revenue of $64.13 million for the quarter, compared to the consensus estimate of $62.72 million. Ooma had a negative net margin of 2.04% and a negative return on equity of 2.22%. On average, equities research analysts expect that Ooma will post -0.1 earnings per share for the current year.

Ooma Company Profile

Ooma, Inc provides communications services and related technologies for businesses and consumers in the United States and Canada. The company's products and services include Ooma Office, a cloud-based multi-user communications system for small and medium-sized businesses; Ooma Connect, which delivers fixed wireless internet connectivity; and Ooma Enterprise, a unified-communications-as-a-service (UCaaS) solution.